Foreclosure - A court proceeding upon default in a mortgage to vest title in the mortgagee.
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Foreclosure at Legal Glossary What is it? The forced sale of real estate to pay off a loan on which the owner of the property has defaulted.
Law Definition Added By: Brooklyn
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Foreclosure definition:
To eliminate a right of redemption on mortgaged real property.
Generally, this is what happens when someone does not pay their mortgage.
Foreclosure
Where a mortgage lender (mortgagee) can apply to the High Court to force a borrower (mortgagor) to pay off their mortgage completely or have the lender seize and sell the property to in order to pay off the debt.
Foreclosure
(n) Foreclosure is the closing of a liability, obligation, receivables etc by recovering the dues by other means like selling the lien , mortgages etc in his possession, before waiting the action or fulfillment from the debtor.
FORECLOSURE - When a borrower cannot repay a loan and the lender seeks to sell the property. The legal process by which the mortgagor's equitable or statutory right to redeem mortgaged property is terminated.
Foreclosure
The technical meaning of the word is to wipe out a right of redemption on a property. Generally, this is what happens when someone does not pay their mortgage.
Foreclosure - A court proceeding upon default in a mortgage to vest title in the mortgagee.
Forfeiture - A cancellation. A legal action whereby a contract purchaser following default loses all his interest in the property.
Foreclosure:
That action that a lender will take to repossess and sell a piece of property for defaults in mortgage payments.
Foreclosure
A proceeding in or out of court, to extinguish all rights, title, and interest, of the owner(s) of property in order to sell the property to satisfy a lien against it.
foreclosure: a legal proceeding that bars or extinguishes right
foreperson: a member of a jury, usually the first juror called and sworn, or a juror elected by fellow jurors, who delivers the verdict to the court ...
Foreclosure: A court order ending the legal ownership of property.
Foreman: An elected member of a jury who delivers the verdict to the court.
G ...
foreclosure - A termination of all rights of the mortgagor or his grantee in the property covered by the mortgage.
foreclosure A proceeding that bars or extinguishes a mortgagor's right to redeem a mortgaged estate; often used in a general sense to refer to the procedure by which a lender takes possession of property given as security by the borrower.
FORECLOSURE, practice. A proceeding in chancery, by which the mortgagor's right of redemption of the mortgaged premises is barred or foreclosed forever.
Foreclosure
Definition - Noun
1 : a legal proceeding that bars or extinguishes a mortgagor's equity of redemption in mortgaged real property ...
foreclosure
Related answers:
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Bill of foreclosure. A bill of foreclosure is one filed by a mortgagee against the mortgagor, for the purpose of having the estate, sold, thereby to obtain the sum mortgaged on the premises, with interest and costs.
See foreclosure. Foreclosure Any judicial proceeding instigated to foreclose the rights of defendant parties to the action.
Normally recorded is any document affecting title to real property such as a deed, deed of trust, mortgage, reconveyance, release, declaration of homestead, easement, judgment, lien, request for notice of default, foreclosure, ...
In some jurisdictions, borrowers in this situation may undo mortgagees' invocation of acceleration clauses and avoid foreclosure by making-up past-due payments and compensating the mortgagee for some or all of the costs associated with the borrower's ...
In contrast to native systems, the British introduced easy transfer of agricultural holdings and allowed foreclosure of property for debt.
A debt on which a creditor has a lien. The creditor can institute a foreclosure or repossession to take the property identified by the lien, called the collateral, to satisfy the debt if you default. Compare unsecured debt.
security deposit ...
Foreclosure: Forfeiture of a right of redemption on a property (generally when someone fails to pay a mortgage).
Foreclosure - A legal sale of mortgaged property by a creditor to obtain satisfaction of the mortgage out of the proceeds of the sale.
REDEMPTION
n. the act of redeeming, buying back property by paying off a loan, interest and any costs of foreclosure.
Clerks of Court - the clerks of Superior Court in each county of the state exercise the judicial power of the state in the probate of wills, administration of estates, and the handling of special proceedings such as adoptions and foreclosures.
 See also: Law, State, Property, Court, Right
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